Prudent Man Advisors LLC Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

Prudent Man Advisors LLC decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,466 shares of the oil and gas company’s stock after selling 897 shares during the quarter. Prudent Man Advisors LLC’s holdings in Marathon Petroleum were worth $728,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Gladius Capital Management LP bought a new stake in Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its position in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Crewe Advisors LLC bought a new stake in Marathon Petroleum during the 1st quarter valued at approximately $29,000. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum in the third quarter worth $30,000. Finally, TruNorth Capital Management LLC bought a new stake in Marathon Petroleum in the 2nd quarter valued at $35,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MPC shares. BMO Capital Markets decreased their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Wells Fargo & Company decreased their price target on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. TD Cowen reduced their price objective on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Trading Down 0.4 %

NYSE MPC opened at $157.52 on Monday. The stock has a market cap of $50.63 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.74 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The company has a fifty day simple moving average of $159.06 and a two-hundred day simple moving average of $168.26.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter in the previous year, the business earned $8.14 EPS. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum’s payout ratio is currently 26.15%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.